Long-term care insurance provides coverage for care administered outside a hospital setting. Good policies provide payment for custodial care services, such as preparing meals, doing laundry, and shopping. While Medicaid requires that custodial care be provided in a nursing home, long-term care insurance generally covers custodial care in the insured’s home, an assisted living facility, a family member’s home, or a nursing home.

Special Purpose Acquisition Companies (SPACs) can offer a number of advantages to benefit mergers–from creating more liquidity to attracting new investors. A Special Purpose Acquisition Company or Corporation (SPAC) is a publicly-traded buyout company that raises money for the purposes of pursuing the acquisition of an existing company. SPACs can be an excellent vehicle for…

If you have a child with special needs, you should talk to extended family members who may be intending to make a gift or bequest. Extended family members may have your child’s best interests at heart, but they may be unaware that the money they leave to your child could jeopardize eligibility for government benefits.

The business judgment rule is a legal concept that gives the directors and officers of a corporation a measure of protection against liability while they are conducting business for their corporation.  Directors and officers are entrusted with the responsibility of managing the corporation’s affairs.  In this role, they often face difficult questions concerning whether to…

In our post dated July 19, we noted that as a result of the adoption of the Wall Street Reform Act, one of the definitions of “Accredited Investor” was amended to exclude from the calculation of an investor’s net worth the value of the his or her primary residence.  In late July, the SEC Staff…

While it’s important for the parents of a child with special needs to provide for the child’s financial well-being in their estate plan, it’s equally important to address the issue of transitioning to life with a new caregiver. That’s the purpose of a letter of intent, which is intended to assist future caregivers by describing…

A buy-sell agreement is meant to protect the interests of the business and all the partners involved by establishing guidelines for selling the business shares. A company’s buy-sell agreement should dictate when shares can be sold, in what manner they can be sold, and the price at which they can be sold. The agreement will…

Shareholder agreements are documents that provide businesses with a roadmap of how to act in certain situations.  A shareholder agreement is negotiated and executed so that common procedures will be established before any business problems develop.  Generally, the most important issues contained in shareholder agreements are those that address stock ownership.  A shareholder agreement can…

After completing  an initial public offering (IPO), a company may  decide to offer additional securities, either debt or equity, to the public. These offerings are referred to as “follow-on” offerings because they follow the IPO. There are two different types of follow-on offerings: A primary offering is a public offering of securities that is made…

Some people consider an investment in a Private Placement Offering (PPO) to be speculative and highly risky. While there is a certain amount of risk to investing in PPOs, there are regulations in place that are meant to protect those investors who choose to participate in these offerings. Generally, investors must meet the qualifications of…